Show Originally Aired: 9/16/2002 CALL 1 800-423-TALK
The Greedy Executive
John Welch, former General Electric Corporation CEO Email to friend
"The world has changed during the past year," writes Jack Welch in this morning's Wall Street Journal. And he should know. The case of Welch, the Super CEO, is a perfect example of corporate excess and public attitude.
Though he's not accused of crimes, he, like many others, is increasingly under the social and financial microscope. CEOs are getting pushed off of plush thrones one by one, many amidst sordid stories of fraud, insider trading, exorbitant salaries and sky-high severance packages. The answer to the oft-repeated question: are they bad people, or are these bad systems, is still unclear. But it doesn't look like the CEO's fall from grace will end soon.
Stock options and new options, from the Board room to the Boss' office.
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John Cassidy, financial and economics writer for The New Yorker, and author of the forthcoming article, "The Greed Cycle
" Laurie Cohen, Senior Writer for The Wall Street Journal
Laurie Cohen, Jack Welch is in the middle of a very messy divorce listen
John Cassidy,people get angry and they look for scapegoats listen
